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Jun 22 - 07:55 AM

AUD/USD - Drops Back Towards Six-Month Low As Iron Ore Sags

By Rob Howard  —  Jun 22 - 06:00 AM
  • AUD/USD drop to 0.7495 influenced by another down-day for Dalian iron ore

  • Dalian iron ore closed down 2.7% nL2N2O40CInL2N2O408AnL2N2O30A8

  • Iron ore is Australia's single biggest export earner. 0.7546 was Asia high

  • 0.7495 = 17 pips above Friday's six-month low (which was tested on Monday)

  • Hawkish Fed spurred fall to 0.7478. Powell speaks at 1800GMT nN9N2M1016

  • IMM speculators raise net AUD short position to one-year high nL2N2O40EZ

AUDUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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